Month 1 2 3 4 5 6 7 Value 23 13 20 12 18 21 16...

Month	1	2	3	4	5	6	7
Value	23	13	20	12	18	21	16

(b)	Develop a three-month moving average for this time series. Compute MSE and a forecast for month 8.
	If required, round your answers to two decimal places. Do not round intermediate calculation.
	MSE:
	The forecast for month 8:
(c)	Use α = 0.2 to compute the exponential smoothing values for the time series. Compute MSE and a forecast for month 8.
	If required, round your answers to two decimal places. Do not round intermediate calculation.
	MSE:
	The forecast for month 8:
(d)	Compare the three-month moving average forecast with the exponential smoothing forecast using α = 0.2. Which appears to provide the better forecast based on MSE?
	- Select your answer -3-month moving averageexponential smoothingItem 7
(e)	Use trial and error to find a value of the exponential smoothing coefficient α that results in the smallest MSE.
	If required, round your answer to two decimal places.
	α =

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Expert Solution

orchestra answered 1 year ago

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